XPS PENSIONS GROUP PLC — Remuneration Information 2019

Sep 23, 2019

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RNS Number : 3450N

XPS Pensions Group PLC

23 September 2019

23 September 2019

XPS Pensions Group plc

(the "Company")

TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

XPS announces that, on 18 September 2019, Ben Bramhall (Co-Chief Executive Officer), Paul Cuff (Co-Chief Executive Officer), Snehal Shah (Chief Financial Officer) and Jonathan Bernstein (Chief Operating Officer), all persons discharging managerial responsibilities ("PDMRs"), were granted awards under the Company's Performance Share Plan ("PSP") as set out below.

The value of the awards was calculated by reference to the price of an ordinary share on 17 September 2019, being £1.15. The awards were made in the form of nominal-cost options which will generally become exercisable on the third anniversary of the date of grant, subject to the satisfaction of the following performance targets: (1) 50% of the awards vests subject to an Earnings Per Share (EPS) growth target whereby 25% vests for compounded annual growth (CAG) of 3% above CPI and 100% vests for CAG of 7% above CPI (with vesting on a straight-line basis for performance between 3% and 7% CAG and no vesting for performance below 3% CAG); and (2) 50% of the awards vests subject to a relative Total Shareholder Return (TSR) target whereby 25% vests for median ranking and 100% vests for upper quartile ranking (with vesting on a straight-line basis for performance between median and upper quartile ranking and no vesting for a ranking below median).

Once vested, the options will be exercisable until the tenth anniversary of the date of grant, unless the exercise period is shortened in accordance with the PSP rules. 

Further details are set out in the below notification, made in accordance with the requirements of the EU Market Abuse Regulation. 

1.

Details of PDMR/person closely associated with them ('PCA')

a)

Name

Benjamin Bramhall

b)

Position/status

Co-Chief Executive Officer / PDMR

c)

Initial notification/

amendment

Initial notification

2.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

XPS Pensions Group plc

b)

LEI

2138004Y8OBPJEAACJ11

3.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transaction(s) has been conducted

a)

Description of the financial  instrument

Ordinary shares of 0.05 pence each ("Ordinary Shares")

ISIN: GB00BDDN1T20 

b)

Nature of the transaction

Grant of award under the XPS Pensions Group plc Performance Share Plan, of Ordinary Share options which will vest on 18 September 2022, subject to the satisfaction of performance conditions.

c)

Price(s) and

volume(s)

Price(s)	Volume(s)
0.05p	313,043 Ordinary Shares

d)

Aggregated information

Aggregated volume

Price

n/a (single transaction)

e)

Date of the transaction

18 July 2019

f)

Place of the transaction

London Stock Exchange (XLON)

1.

Details of PDMR/person closely associated with them ('PCA')

a)

Name

Paul Cuff

b)

Position/status

Co-Chief Executive Officer / PDMR

c)

Initial notification/

amendment

Initial notification

2.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

XPS Pensions Group plc

b)

LEI

2138004Y8OBPJEAACJ11

3.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transaction(s) has been conducted

a)

Description of the financial  instrument

Ordinary shares of 0.05 pence each ("Ordinary Shares")

ISIN: GB00BDDN1T20 

b)

Nature of the transaction

Grant of award under the XPS Pensions Group plc Performance Share Plan, of Ordinary Share options which will vest on 18 September 2022, subject to the satisfaction of performance conditions.

c)

Price(s) and

volume(s)

Price(s)	Volume(s)
0.05p	313,043 Ordinary Shares

d)

Aggregated information

Aggregated volume

Price

n/a (single transaction)

e)

Date of the transaction

18 September 2019

f)

Place of the transaction

London Stock Exchange (XLON)

1.

Details of PDMR/person closely associated with them ('PCA')

a)

Name

Snehal Shah

b)

Position/status

Chief Financial Officer / PDMR

c)

Initial notification/

amendment

Initial notification

2.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

XPS Pensions Group plc

b)

LEI

2138004Y8OBPJEAACJ11

3.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transaction(s) has been conducted

a)

Description of the financial  instrument

Ordinary shares of 0.05 pence each ("Ordinary Shares")

ISIN: GB00BDDN1T20 

b)

Nature of the transaction

Grant of award under the XPS Pensions Group plc Performance Share Plan, of Ordinary Share options which will vest on 18 September 2022, subject to the satisfaction of performance conditions.

c)

Price(s) and

volume(s)

Price(s)	Volume(s)
0.05p	259,239 Ordinary Shares

d)

Aggregated information

Aggregated volume

Price

n/a (single transaction)

e)

Date of the transaction

18 September 2019

f)

Place of the transaction

London Stock Exchange (XLON)

1.

Details of PDMR/person closely associated with them ('PCA')

a)

Name

Jonathan Bernstein

b)

Position/status

Chief Operating Officer / PDMR

c)

Initial notification/

amendment

Initial notification

2.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

XPS Pensions Group plc

b)

LEI

2138004Y8OBPJEAACJ11

3.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transaction(s) has been conducted

a)

Description of the financial  instrument

Ordinary shares of 0.05 pence each ("Ordinary Shares")

ISIN: GB00BDDN1T20 

b)

Nature of the transaction

Grant of award under the XPS Pensions Group plc Performance Share Plan, of Ordinary Share options which will vest on 18 September 2022, subject to the satisfaction of performance conditions.

c)

Price(s) and

volume(s)

Price(s)	Volume(s)
0.05p	227,895 Ordinary Shares

d)

Aggregated information

Aggregated volume

Price

n/a (single transaction)

e)

Date of the transaction

18 September 2019

f)

Place of the transaction

London Stock Exchange (XLON)

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